ESPN's Adam Schefter first reported Tuesday that Kansas City would receive at least a second-round draft pick. NFL Network's Ian Rapoport later reported the return will be a third-round pick and a player to be named. Further reports Tuesday said cornerback Kendall Fuller was the player, but Fuller tweeted that he had not been dealt.

Schefter also reported that Smith and Washington have agreed to a four-year contract extension. ESPN's Chris Mortensen reported Smith will receive $70 million in guaranteed money under the new pact and the average annual value of the deal will be $23.5 million.

Smith has one year and a cap figure of $20.6 million remaining on his current pact, per the Star.

Smith, who will turn 34 in May, has been Kansas City's starter the past five seasons but was in line to be replaced by Patrick Mahomes, the team's first-round draft pick in 2017.

The move signals the end of Cousins' time with Washington. The team could have placed the franchise tag on him for one more season, but that would have cost about $34 million. Cousins, 29, will become an unrestricted free agent once the league year begins.